Housing repossessions with a mortgage

Housing repossessions with a mortgage

According to some of the latest statistics released from Gov.uk, Yorkshire, Wales and the North East of England are subject to the highest number of housing repossessions with a mortgage, with 19 per 100,000 households, in July to September 2016.

Likewise, housing charity Shelter has looked at the latest figures from last year and predicted that 1,260 families in London alone are expected to unfortunately lose their home to repossession in the next month and a further 7,370 would be without a roof in the next six months. To put it into perspective, Shelter elaborates that one family loses their home every 12 minutes, or the equivalent of five families per hour. Shelter is a charity based in the UK, whose mission is to safeguard millions of people struggling every year with poor housing or homelessness, providing the care and support and even legal services to help every individual back on their feet.

The figures which were released at the beginning of the year, show that an estimated 43,820 homeless families are living in the UK, including 88,040 homeless children. Graeme Brown, the charity’s interim chief executive told TheAccording to some of the latest statistics released from Gov.uk, Yorkshire, Wales and the North East of England are subject to the highest number of housing repossessions with a mortgage, with 19 per 100,000 households, in July to September 2016.

Likewise, housing charity Shelter has looked at the latest figures from last year and predicted that 1,260 families in London alone are expected to unfortunately lose their home to repossession in the next month and a further 7,370 would be without a roof in the next six months. To put it into perspective, Shelter elaborates that one family loses their home every 12 minutes, or the equivalent of five families per hour. Shelter is a charity based in the UK, whose mission is to safeguard millions of people struggling every year with poor housing or homelessness, providing the care and support and even legal services to help every individual back on their feet.

The figures which were released at the beginning of the year, show that an estimated 43,820 homeless families are living in the UK, including 88,040 homeless children. Graeme Brown, the charity’s interim chief executive told The Independent that the cause of homelessness is due to a ‘drought of affordable homes’. He further commented that ‘it’s shocking that every hour, five families in England are predicted to become homeless as a direct result of our worsening housing crisis.’

Governmental figures demonstrate that the number of households in temporary accommodation in Britain increased substantially by 9% in July to September 2015. The mayor of London, Sadiq Khan has rolled out plans to ease the burden of the housing crisis, which he fears is to continue. He has hastened the process to build more affordable homes across the country, as well as £3.15 billion provided to support the construction of 90,000 homes.

Graeme Brown commented further to say ‘sadly, with a drought of affordable homes and crippling welfare cuts, we expect to hear from even more of them in the future. Yet it doesn’t have to be this way. The Government has the power to provide homes that people on lower incomes can realistically afford to live in. In the meantime, we need the public to help Shelter raise vital funds so that we can continue to provide frontline support to every homeless family that needs us.’

So in a bid to eradicate or at least attempt to eliminate the plight of homelessness in the UK, the charity has set up a fundraising drive called Vertical Rush. This fundraiser is challenging participants to run up a 42-floor skyscraper called Tower 42 in London. The event is to take place in March.

The shadow housing minister for Labour, John Healey added to the crisis that:

‘This rising problem is a direct result of decisions made by Conservative Ministers: a steep drop in investment for affordable homes, crude cuts to housing benefit, reduced funding for homelessness services, and a refusal to help private renters.’

MP’s are now doing everything they can to back the new legislation to enforce a new duty on councils to intervene and help those who fear to be at risk of repossession or homelessness. The Homelessness Reduction Bill as it is known is hoping to solve the problem.

If you are at risk of having your house repossessed, don't shy away from using our housing support guide.